The Los Angeles planning department has approved a proposal by development and investment company Geneva Street Partners for a six-story, 43-unit apartment project in Palms, according to a determination letter posted by the city of Los Angeles this month.
Named Geneva @ Hughes North in planning documents, the mid-rise development will take shape at 3521 – 3537 S. Hughes Ave. and hold 14 one-bedroom apartments, 20 two-bedrooms, and nine three-bedrooms, replacing four structures totaling six units. Designs are being led by Hochhauser + Blatter Associates Architecture & Planning, with project representative three6ixty also involved in plans, according to application documents.
Geneva Street Partners first submitted plans for the Palms development about one year ago calling for 40 units at the site. It acquired the four-parcel project site through an affiliate for a total of about $5.8 million in a series of transactions spanning from 2018 to last year.
Approvals given this month allow for Tier-3 project incentives under the city’s Transit Oriented Communities Incentive Program, including a 70-percent density bonus and two-story height increase, plans show. The developer will reserve five units for extremely low-income households in accordance with the TOC program.
The approximately 67-foot-tall, 59,000-square-foot project will also provide 49 below-grade parking spaces, 42 spaces for bicycles, and about 5,500 square feet of open space divided across a sixth floor terrace, a rear yard, and private patios, plans show.
